Rita McGrath explores the risks and opportunities of the transient‐advantage economy
Abstract
Purpose
The purpose of this article is to provide an interview with innovation guru Rita Gunther McGrath. In this interview, McGrath offers her own perspective on the new competitive landscape, which she refers to as the “transient advantage economy,” and she sets out to help strategists more fully understand its implications and better navigate its major challenges.
Design/methodology/approach
In a world where strategy development itself needs to become more and more a process of innovation and discovery, few are better qualified to offer deep insight and practical help. McGrath is a Professor at Columbia Business School and a globally renowned expert on strategy in uncertain environments.
Findings
The “transient‐advantage economy,” that promises to leave few if any businesses unaffected, calls for an entirely new strategy playbook.
Practical implications
Deeply ingrained structures and systems designed to extract maximum value from a competitive advantage become a liability when the environment requires instead the capacity to surf through waves of short‐lived opportunities.
Originality/value
From the way we handle innovation, to resource allocation, to change, to the leadership mind‐set and even the management of individual careers, the transient advantage economy calls for a radical rethinking of how we create strategies and manage organizations.
Keywords
Citation
Leavy, B. (2013), "Rita McGrath explores the risks and opportunities of the transient‐advantage economy", Strategy & Leadership, Vol. 41 No. 4, pp. 10-16. https://doi.org/10.1108/SL-04-2013-0024
Publisher
:Emerald Group Publishing Limited
Copyright © 2013, Emerald Group Publishing Limited